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Top five stories of Vancouver real estate market 2014
Real estate in the metro areas of Vancouver started off in a high in 2014, with home buyers seen to be active in the summer months which led to home sales doing well and exceeding the ten year average figure in the month of September 2014. Sales of residential property reached a figure of 2922 which represented an eighteen percent increase on the 2013 figures.
Land sales rise as commercial sector sees a fall in sales
Sale of vacant lands has been significant in 2014 for Vancouver. The Lower Mainland area saw an increase in the demand for commercial real estate. The rise in land sales has been more as compared to retail, office and industrial space real estate sales. Sales of commercial real estate have fallen by seven percent as compared to the figures in 2013 in Q2. However, land sales have led to an increase by fifteen percent as compared to 2013 figures in the same quarter.
Blanket drive completes two decades
The blanket drive picked up prices fall again in vancouver, because of laneway houses the pace from November 2014 which saw different realtor firms working across Vancouver to help their clients donate blankets, winter clothing, sleeping bag, underwear and socks to those in need. Two decades of this program was completed in 2014 by when about hundred real estate offices have become participants in such a drive. The donations are sorted out and delivered to different charitable organizations, in the areas where they are collected. The program has been helping the working poor and the homeless in surviving the harsh cold of the winters every year.
Commercial real estate goes quiet in Q3 2014
Commercial real estate sales hit a record low in 2014. The total dollar value of real estate in the commercial sector reached a figure of 1.2 billion dollars by Q3 which showed a decline by thirty percent from the same figures achieved in Q3 2013. 2014 was summarized to have been quiet in the commercial sector front though, overall, it kept pace with the growth figures of 2013. However, land sales in contrast, saw a sharp increase in Q2.
Home prices on the rise by end of 2014
Home prices ended at a high for Vancouver in 2014. As per the last ten years in the market for homes and listings, the listings and home sales for 2014 ranked fifth in home price increases. The sales of residential properties have increased about two percent n 2014 as compared to the figures in 2013. The seller and buyer activity in the home sales segment has been balanced and there has been upward pressure in the home prices over 2014.